The October data for US CPI will be Released Today

The October data for US CPI will be Released Today

The market will be curiously watching the release of the US Consumer Price Index on Tuesday at 13:30 GMT. The data that assesses the inflation will be disclosed by the US Bureau of Labor Statistics. Financial experts are forecasting to have a decline from the 0.4% in September to 0.2% in this October data. Furthermore, the dynamics of inflation could be determined with the release of the Consumer Price Index. So, if there is an increase in the values of the indicator, it will have a positive impact on the US dollar quotes. 

When the CPI was disclosed on 12th Oct 2023 at 12:30 GMT, it stood at 0.4% instead of the anticipated 0.2%. Anyhow, it had a drop from 0.6% and had impacted the American currency negatively. Therefore, the market participants who are trading in the US dollar quotes are advised to be vigilant during the release of the Consumer Price Index and make a note of the readings of the indicators. 

The GDP from the Eurozone was Announced

The Eurostat revealed the GDP of the Eurozone on Tuesday at 10:00 GMT and was found to have a decline of 0.1% from the previous data. Since there was a drop in the values of the indicator, it will have a negative effect on euro quotes. Therefore, before making any significant market decisions, market participants are recommended to make a note of the changes in the readings of the indicator and its consequences. The next release of the indicator will be made on 7th Dec 2023 at 10:00 GMT.

The Announcement of Japanese GDP

The market participants who are trading in the Japanese Yen currency pair are advised to be alert during the release of the Japanese GDP, as it can impact the value of the yen quotes. With the growth in the GDP, a favourable effect will be experienced by yen quotes. The data will be unveiled by the Cabinet Office of Japan on Tuesday at 23:50 GMT. Top economists are expecting a 1.2% growth of the indicator from the previous release of the GDP made on 7th Sept 2023.